HB 12-MORTGAGE LENDING AND LOAN ORIGINATORS                                                                      
                                                                                                                                
4:47:40 PM                                                                                                                    
                                                                                                                                
CHAIR OLSON  announced that the first  order of business  would be                                                              
HOUSE BILL NO.  12 "An Act relating to mortgage  lending, mortgage                                                              
loan    originators,     depository    institutions,     nonprofit                                                              
organizations,   and   nonprofit   organization   employees;   and                                                              
providing for an effective date."                                                                                               
                                                                                                                                
4:48:44 PM                                                                                                                    
                                                                                                                                
GINGER  BLAISDELL, Staff,  Representative  Shelley Hughes,  Alaska                                                              
State Legislature,  speaking on  behalf of the  sponsor of  HB 12,                                                              
Representative  Hughes, offered  to give the  50,000 foot  version                                                              
of  this  bill.    By  changing   some  of  the  state's  statutes                                                              
regarding  mortgage licensing,  this  bill will  create an  equal-                                                              
playing  field for  mortgage brokers,  mortgage loan  originators,                                                              
and  a  similar  oversight  to  banks   or  registered  depository                                                              
institutions.                                                                                                                   
                                                                                                                                
4:49:21 PM                                                                                                                    
                                                                                                                                
CHAIR OLSON  said that  this bill  was originally  opposed  by the                                                              
Alaska  Bankers  Association, but  the  changes in  the  committee                                                              
substitute seemed to neutralize the opposition to the bill.                                                                     
                                                                                                                                
CHAIR OLSON,  after first  determining no  one wished to  testify,                                                              
closed public testimony on HB 12.                                                                                               
                                                                                                                                
4:49:45 PM                                                                                                                    
                                                                                                                                
REPRESENTATIVE  TILTON  moved the  proposed  committee  substitute                                                              
(CS) for  HB 12,  labeled 29-LS0089\H,  Bannister, 4/10/15  out of                                                              
committee  with individual  recommendations  and the  accompanying                                                              
fiscal  notes.    There  being  no  objection,  CSHB  12(L&C)  was                                                              
reported from the House Labor and Commerce Standing Committee.                                                                  
                                                                                                                                
4:50:11 PM                                                                                                                    
                                                                                                                                
The committee took an at-ease from 4:50 p.m. to 4:52 p.m.